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Weekly News Summary For June 28 to July 4

Friday,  June 28: Boeing 737 MAX’s Return Encounters Setback

Shares of Boeing registered a near 3% drop, leading losses on the Dow, after the US Federal Aviation Administration’s findings on the grounded 737 MAX, showed a new risk that will have to be repaired before the aircraft can resume operations.

Following the report, an official for Boeing reportedly said the planemaker now expects to complete the latest software update for the 737 MAX by September.

Monday, July 1: Global Stocks Strengthen as Trade Tensions Ease

World stocks edged higher on Monday, as trade tensions between the US and China soften, lifting risk appetite.

Asian equities were up more than 2%, while European shares posted a two-month high and US futures signaled a triple-digit increase at open, with Dow futures adding 256 points, the S&P 500 futures gaining 30 points, and the Nasdaq 100 futures  climbing 126 points.

Tuesday, July 2: Bitcoin Briefly Drops Below $10,000 Overnight

Bitcoin briefly left the $10,000 level on Tuesday, recording its fourth straight day of losses, and ending 30% below this year’s high of $13,929 booked six days earlier.

The digital currency hit $9,766 overnight, which was still above $7,888 where a 2-week rally started on June 11, although it remains below record highs of nearly $20,000 hit on December 2017.

Wednesday, July 3: European Bond Yields Fall on Lagarde’s Nomination

European bond yields reached record lows on Wednesday, after International Monetary Fund managing director Christine Lagarde was officially nominated to become the next president of the European Central Bank.

Germany and France’s 10-year yield dropped further following the announcement, while Belgium’s bond yields stood on negative territory for the first time, suggesting that investors are prepared to pay to hold the debt until maturity.

Thursday, July 4: Asian Stocks Rise on Hopes of Fed Rate Cuts

Asian stocks were up on Thursday, following strong increases of US shares, as the country’s weak economic figures reinforced hopes of rate reductions by the Federal Reserve as soon as this month.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.4%,  while Japan’s Nikkei and Australia’s S&P/ASX 200 gained 0.3% and 0.6%, respectively, after a report by a payroll processor showed the US added fewer jobs in June, which further suggested a slowing labor market.

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